EU Accelerates Connectivity with Georgia Via Black Sea

European Commissioner for Neighborhood and Enlargement of the European Union Olivér Várhelyi announced that the economic and investment plan of the "Eastern Partnership" would finance the project of the underwater electricity cable between Georgia and the European Union.

According to Várhelyi, the electricity cable will connect Georgia and the entire South Caucasus with Romania, ensuring green energy export to Europe and strengthening cooperation.

The commissioner also stated that the total cost of the Eastern Partnership investment plan is 17 billion euros, and the estimated total investment of the submarine electricity cable project between Georgia and the European Union is 2.3 billion euros.

The meeting held on December 12 was attended by the President of the European Commission, Ursula von der Leyen, the High Representative of the European Union for Security Policy and Foreign Affairs, Joseph Borrell, the European Commissioner for Neighborhood and Enlargement, Olivér Várhelyi, and the European Commissioner, Jutta Urpillainen. Ministers of foreign affairs of the EU member states, representatives of the European Investment Bank, and the European Bank for Reconstruction and Development were also present. The ministers of foreign affairs of the European Union, Georgia, Armenia, Azerbaijan, Moldova, and Ukraine will participate.

The overall goal of the "Eastern Partnership" investment plan is to promote the economic development of the regions and connect them with the European Union. The economic investment plan was developed with partner countries and includes cooperation in digital, energy, and transport.

"The purpose of the discussion will be to determine the future of the Eastern Partnership, as well as the effects of Russia's invasion of Ukraine and the security challenges created in the region." The participants of the European Union and the Eastern Partnership ministerial will exchange views on how the Eastern Partnership can ensure the strengthening of stability and prosperity in the region," said the information released by the Council of the European Union about the meeting.

Anaklia Port To Be Partially Owned by Government

The Prime Minister of Georgia, Irakli Gharibashvili, said that the state would be involved in constructing "Anaklia Port." He said before the government meeting today, December 12, that the state will have a 51 percent stake in the port.

"We are preparing a new tender, a competition, but the main thing is that I want to inform you. According to our decision, the port of Anaklia will be built with the state's participation, where 51 percent will be the state. For the rest, we will announce an international competition and select partners," announced Gharibashvili.

He also spoke about the "Anaklia Development Consortium," called it "the so-called” investor who was supposed to build the "Port of Anaklia." According to him, businessmen Badri Japaridze and Mamuka Khazaradze, now the leaders of the opposition "Lelo" party, have spent only 3 million dollars, although they had attracted 20-25 million dollars from investors.

"After they abandoned this project after 4-5 years and failed to implement it, they decided to rob our country. They sued and took the case to arbitration, and today they are disputing 1.5 billion dollars. Can you imagine what is happening? This project is abandoned, and the place is desolate. They turned this place into a nest of dust. This is categorically unacceptable, we must urgently select international partner companies, and we must also start investing," the PM added.

In early 2020, the Government of Georgia announced that it was terminating the investment agreement for constructing a deep-water port with "Anaklia Development Consortium" because the consortium failed to fulfill its obligations under the investment agreement. The consortium denies this and accuses the Georgian government of purposefully disrupting the strategic project.